No more middlemen - No more MT.Gox - No more fear, uncertainty and doubt -No more “middle” coins

Introducing BitHalo

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BitHalo Windows 64 Bit

BitHalo Windows 32 Bit

Features

Trade Cash

Worldwide cash exchanges for Bitcoin or BlackCoins using Direct Deposit, MoneyGram, Western Union, PayPal, Credit Cards, Gift Cards, or other preferred financial avenues are all possible within the BitHalo client.

Barter Bridges

This can allow for bartering on the platform. You can trade seemingly anything for anything, with full confidence that the transaction will go through. Trade sheep for cows or corn for wheat; either way you can assured that the transaction will be safe from ill-doing.

Micro-Trading

With BitHalo, micro-trading allows you and your counter-party to put up equal deposits with a very low purchase amount. This creates a bridge from which you would send a small percent of what you and your party have negotiated. You then repeat this exchange many times until the full amount is transferred. Using this method you can transfer potentially millions of dollars using a small deposit — and still eliminating the risk.

Joint Accounts

Perfect for a business or a family; share your joint accounts with your business partners or your spouse while also adding an extra layer of security that your money is safe from malicious third-parties. If needed you can take this a step further and password protect your keys with an added layer of encryption. This new innovation resembles many of the day to day banking solutions that bank accounts already provide; but coupled with the brilliance of digital currency.

Hire an Employee & Make Deposits

The employee is expected to perform, and the employer is expected to pay. In this case, the time limit enforces deliverables upon the employee meanwhile significantly increasing productivity. This becomes an invaluable design for outsourcing, with a guarantee that everything will be completed on-time to secure payment. It also guarantees that employer will pay for the  work as it is completed. A win-win situation for both parties.

Trading Pairs for Decentralized Exchanges

No more Mt. Gox, no more convoluted Ripple or NXT. Now your coins never have to leave your computer! Trade Dogecoins for Blackcoins and Bitcoins for Peercoins. The sky is the limit.

End Charge-Back's

Now you can open a ticket in advance with the public keys from you and your counter-party. Each party sends it individually. A plug-in for Paypal could be coded in a few lines of code. This validates the escrow.

New Change Creation System

BitHalo is more efficient than any other client because it looks for your “loose change” in your accounts, groups it together into one output, and pays it to you. Once you have too many pieces of loose change in your “penny jar” or once you have too many “$1 bills,” your address combines them to make a larger bill. This is exactly how cash works in the real world, and you can have all that power in your Bitcoin and Blackcoin Wallet.

Negotiate Escrow Free Real Estate Deals

In real estate, escrows have been known to disappear with the money. No longer will this be possible. Now you and the counter party can decide how you will structure that trust.

 

Anonymous

BitHalo creates the platform for an anonymous decentralized exchange. For example, you can send Bitcoins in exchange for Blackcoins or Dogecoins in exchange for Darkcoins, etc. Once a contract is created in Blackcoin, anything can be traded under it. This is more anonymous than Darkcoin’s “Coin-join” and even more anonymous than XC. Simply because the two chains are totally unrelated. This allows anonymous micro-trading between two parties under the same contract.

Zero-Knowledge Proof

The only thing more anonymous than this  implementation is Zero-Knowledge Proof, which is currently in development. Using zero knowledge proof, we can create coins that are perfectly anonymous. Eventually we plan on adding these special coins to the wallet. There was a fantastic paper written that can explain zero-knowledge to anyone. I highly recommend reading this: (Link)

Cross-Platform Communication

It should be mentioned that all Halo clients will be able to communicate with each other, making BitHalo a far more powerful solution than any contracting client that may attempt to clone it.

Upcoming Features

Cold Staking

One of the main gripes with having to stake your coins is that you have to unlock your wallet in order to do so. Using Two Step Send, you can synchronize computers from separate locations. This makes your wallet able to stake — while not always remaining online. Allowing for a more secure option to staking — especially a large amount of coins.

Proof of Balance

We are currently investigating pruning techniques. One that is being considered is proving the balance of all the wallets are in fact streamlining the blockchain. This could make blockchain bloat a thing of the past.

NightTrader Contract Templates

Contract templates are being made for NightTraders platform to make buying and selling coins for cash is as easy as clicking a button. Templates for micro-trading, bartering, eBay style puchases, and employment templates are currently being developed. These features are currently possible; however templates will make it much more user-friendly for those new to the platform.

Python Contracts

Another version of contracts; these first version of these contracts will allow a party to send python code inside the contract. Coders can send us attributable python contracts which we will review and approve if secure. We will then give the option to send an unapproved contract for experienced parties. The first version of Python contracts will execute itself on a certain block and can perform highly advanced functions like ensuring bets or derivatives.

Automatic Trading

We plan on enhancing our trading floors to allow our IRC bots to accept contracts automatically at certain prices. We are also working on servers built on top of BitMessage channels for decentralized order books and other types of markets.

Encrypted Blockchain Messaging

We already use colored coins and messaging as a guard against spam. However, Once we implement pruning, we will allow you to negotiate the full contract on the Blackchain (Blockchain). This will also give us the option to add notary without bloating the chain. 

Backing of Physical Bitcoins/Blackcoins

Counterfeit-proof digital currency, but without the need for the internet. Much safer then Casascius Coins. They say no two snowflakes are alike — as are crystals backed by Bit/Black Halo contracts. The private key would be a crystal embedded within a larger crystal. The larger crystal would represent the public key — the smaller the private key. The Halo contract guarantees the money inside and it gets redeemed when the person cracks the inner crystal to retrieve the private key within, electronically. Using a calorimeter or spectrometer you can verify authenticity of crystals. Contracts guarantee the key is inside during the lifespan of the crystal — allowing you notice if they are opened prematurely or falsely. Unique refraction patterns would be almost impossible to forge — identifying the crystal to its respective public key and Halo contract.

The first of its kind to support two-party contracts, Joint Accounts & More!

About BitHalo and NightTrader

Trust a stranger even if they are dishonest. How? Thanks to Blackcoin and a special solution to extortion, we have not only created the worlds first decentralized smart contracting software but it will allow two parties to perform any type of contract! The Software allows for decentralized exchanges, derivatives, guarantors, bartering, backing of Bitcoin cash, good faith employment contracts, elimination of malleability and basically any agreement imaginable.

BitHalo

BitHalo and BlackHalo is the same client. It’s a smart contracting client, which eliminates the middle man, or the trust you have to put in total stranger when doing transactions. It offers “double deposit two-party escrow”, joint accounts and more! You can initiate worldwide transfers, straight from your computer to someone else right from the wallet — anywhere in the world and without the need of a company or person acting as an intermediary.  You can pay them knowing they can’t break the contract due to the advanced deposit each party made to insure the deal. The contracts are unbreakable.

NightTrader

A decentralized exchange/trading floor is implemented in BitHalo’s/ BlackHalo’s “Market” tab. NightTrader is an encrypted messaging system which creates a totally new system of client networks, which allows them to communicate without the use of centralized servers. This prevents threats and extortion since clients can filter the messages and allows for all kinds of wonderful products to be created atop the platform itself.

BitHalo/ BlackHalo is a business protocol that solves a problem about commitment schemes and trustless two-party double-deposit escrow!

David Zimbeck - Developer

BitHalo Safeguards

BitHalo allows you to safely trade or barter coins or other commodities however you like. The software has several safeguards to assure you are fully protected.

 

Signature

BitHalo confirms the escrow is properly signed before sending the cash/commodity. It will alert you that everything is confirmed. Once it does, you are free to make the exchange.

Destruction Transaction

BitHalo creates an advanced timeout transaction that destroys the escrow once the time limit expires. Additionally, BitHalo clients will forget the deal once it has timed out so that disabling the timeout/destruction transaction cannot do anything for dishonest parties

Instant Refund

If you are dealing with somebody you really don’t trust, the instant refund is a good way to protect against malleability.

Signing broken links

Any broken transaction IDs will automatically be re-signed by the client. This may happen if a group of miners decided to randomly mutate transactions.

Micro-trading

Micro-trading allows parties to structure their trust in increments. So for parties that wish to risk less in the beginning, can still trade for large amounts. They can perform trust building exercises with new parties.

Time Function

When planning your project, the time limit/destruction transaction is really the most important thing to consider. You can plan ahead, and even set your trade for a year if you desire. Just remember, time limits are there for your protection. They protect either party from being lazy, dishonest, or just careless.

Auto-backup

The auto-backup function automatically saves all your raw contract data at a second location. While BitHalo already stores this, this feature stores the entire history off all your contracts just in case a mistake is made.

BlackHalo – David Zimbeck at Cryptolina 2014

Please note that BitHalo is almost the same as BlackHalo. The Halo software can be built for any crypto-currency.

  • BlackHalo has the potential to be a game changer for the world of Crypto as we know it.

    JP Buntinx - CryptoArticles.com
  • No longer do you have to worry about your favorite Bitcoin exchange being closed down or the person in charge running away with their pockets full of your money.

    Joshua J. Bouw - BLKFoundation.org
  • Don’t tell Darkcoin… Trading across chains is more anonymous than any other coin.?

    Matthew Bowler
    - YouTube

BitHalo in News & Media

Development Progress

Current estimated development stage. Just a quick overview.

BitHalo
100%
BlackHalo
100%
NightTrader
70%
Webpage
80%
Templates
20%
Enthusiasm
100%